- SHIB/USD is currently priced at $0.000013 and has increased by 4.52% over the past day
- The trading volumes have increased by 80.42% over the past day
- The technical indicators suggest a positive outlook for the near term
Short Term View: Will Shiba Inu price go on an upswing?
The Shiba Inu price today is $0.000013 USD with a 24-hour trading volume of $419,967,169 USD. Shiba Inu is up 4.52% in the last 24 hours. The trading volumes have increased manifolds over the past day whereas the Volume to Market Cap Ratio stands at 0.06104 for the altcoin.
Shiba Inu remains heavily bullish over the short-term and the medium-term time horizons. The asset has seen a huge influx of buyers over the past day which is depicted aptly in the positive price change over the past few days. The uptrend is in motion which is demonstrated by Shiba Inu price currently transacting above the 20,50 SMA on the four hour chart. The technical analysis for Shiba Inu shows that a move above the $0.000015 mark would further consolidate the position of the bulls. On the flip side, a breakout under the $0.000010 level would spell trouble for the asset in the coming days.
Long Term View for Shiba Inu Price
The Shiba Inu bulls have entered the fray and will now be looking to ascend the altcoin to even greater heights. The green histograms are increasing in size on the daily chart, whereas the MACD and signal lines are transacting in the positive territory. Moreover, the RSI is currently transacting at 62.17 and seems headed towards the overbought territory. This is a major boost for the bulls and they will be looking to further their cause by aiming to curtail the bearish activities.
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Conclusion
To conclude, Shiba Inu price analysis reveals that the cryptocurrency is following an upward trend and the technical indicators provide much room for activity on the positive extreme. Hence, Shiba Inu Price is likely to continue moving upwards in the days ahead.
Support: $0.000010
Resistance: $0.000015
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/08/09/shib-price-analysis-will-shiba-inu-flourish-in-the-coming-days/